2. Who We Are
● Non-Profit – no charge for services
● HUD Approved
● In existence since 1998
● 2 Offices Providing a variety of services
● Certified in Foreclosure Prevention
● Certified in Credit Counseling
● Certified in Homebuyer Education
3. Services We Provide to Assist You
Our Goal is
Preventing Foreclosure
We will work with your Mortgage Company to
obtain a solution.
– Modification: Change some terms of your
mortgage to make it more affordable
– Short Sale: Sell your property for less than
owed
– Deed in Lieu: Deed property back to mortgage
company
4. Types of Modifications
● Government Modification:
Home Affordable Modification Program
– Requires documented hardship
– Intent is to set payment at 31% of GROSS
income through these methods:
● Interest Rate Reduction
● Extend Term of Loan
● (RARELY) Principal Reduction or deferment
● Traditional Modification: similar methods but
mortgage company can be more flexible
5. Hardest Hit Program
– Government program that assists homeowners
that are unemployed or underemployed.(very
specific hardship)
– The program has up to $42,000 per qualified
homeowner.
– Funds can be used to bring the first mortgage
current and to help make payments for up to 12
months.
6. ● Hardest Hit Eligibility Criteria
● Unemployed or underemployed through no
fault of your own
● Home must be primary residence
● Monthly housing debt more than 31% of
gross income
● Cannot own more than 1 other property
7. Documents Needed for Counseling
Always provide Copies
– Complete and sign all forms in intake package
– Hardship letter
– 2 months most recent bank statements (all
pages)
– 30 days most recent proof of income
– Proof of all other income (Social Security, child
support, retirement, etc.)
– Profit and loss statement if self-employed
– Homeowners insurance declaration page
8. Documents Needed for Counseling
(Continued)
– Homeowners Association statement(if applicable)
– Copy of all monthly bills
– Recent mortgage statement
– Copy of photo ID and Social Security cards for
all borrowers
– $30 (joint) or $20 (single) for a credit report
10. What happens next?
● Turn in your complete intake package and any
supporting documents that you have today.
● Schedule your phone counseling appointment
with your counselor to review the
information you have provided. Counselor will
contact you the day of your appointment.
● Have any additional documents that you are
not turning in today available for your phone
appointment.
11. • Following your phone counseling appointment,
your counselor will send you an “action plan”.
This is a follow up of your phone appointment
and will provide you with a list of the
documents your counselor still needs or the
next actions you need to take.
12. Requested Documents:
• All completed and signed intake package forms
• Hardship letter
• Two month’s bank statements for all accounts – Budget
• 1 Month Proof of Income
• Proof of other income (Social Security Award letter, Pension statement,
retirement, divorce decree showing child support)
• Profit and loss statement if self employed
• 2 years of most recently filed tax returns
• Homeowners insurance declaration page
• Homeowners association statement (if applicable)
• Copies of all monthly bills
• Recent mortgage statement
• Copy of photo ID and Social Security Card for all borrowers
• $30 Cash or money order for Credit Report ($20 for individual)
